Palo Alto Networks, Inc. (NASDAQ:PANW) Receives Consensus Rating of “Moderate Buy” from Analysts

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) has received a consensus recommendation of “Moderate Buy” from the thirty-nine brokerages that are currently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and twenty-nine have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $314.82.

A number of equities research analysts have recently issued reports on PANW shares. Evercore ISI upped their price target on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Northland Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective for the company. in a report on Wednesday, February 21st. Susquehanna reduced their target price on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research note on Monday, February 26th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Finally, Truist Financial lifted their price target on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th.

Get Our Latest Stock Analysis on Palo Alto Networks

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. Insiders have sold a total of 143,153 shares of company stock worth $44,107,332 over the last quarter. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Worth Asset Management LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter worth about $26,000. Covestor Ltd increased its holdings in Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Palo Alto Networks by 1,071.4% during the second quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after buying an additional 75 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the 4th quarter worth approximately $27,000. Finally, Webster Bank N. A. grew its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $284.13 on Tuesday. The business’s 50 day moving average price is $317.26 and its 200-day moving average price is $286.27. Palo Alto Networks has a 1 year low of $176.30 and a 1 year high of $380.84. The firm has a market capitalization of $91.80 billion, a PE ratio of 44.40, a P/E/G ratio of 3.87 and a beta of 1.21.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, analysts expect that Palo Alto Networks will post 2.76 earnings per share for the current year.

About Palo Alto Networks

(Get Free Report

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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